Has college now become an entitlement? If Barack Obama gets his way, it very well may turn out to be the next taxpayer funded handout.
Writing in the Washington Post, Shailagh Murray details the way Obama wants to "transform" funding for college loans:
But Obama would go much further. He wants to terminate the private Federal Family Education Loan program, the primary source of student loans. Advocates say the move is a formality: The government already effectively controls the program by guaranteeing the loans, paying a special allowance to lenders, and in recent months, buying back loans by the billions from struggling firms.
Shifting all lending authority to the government through its Direct Loan program would save $94 billion over 10 years, according to the Congressional Budget Office. Obama would use that windfall to expand the Pell Grant program, created in 1965 to cover most tuition costs for low-income students.
Total government control over college lending. Another power grab by our "pragmatic" Mr. Obama.
Here is a fact: the vast bulk of jobs in America in the years ahead do not require a college education. Just what our budget needs-another trillion –dollar entitlement. All with American taxpayer dollars.
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